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14th April 2020 by Natasha Goldstein
So, you've paid all your wedding deposits, perhaps even paid in full for some items and you find out your supplier has suffered a financial failure such as liquidation or has been declared bankrupt. What are your next steps?
Dreamsaver Wedding Insurance present 5 helpful steps to take should you find yourself in this exact situation and are unsure of where to turn or what to do.
Before contacting Dreamsaver Wedding Insurance, speak to your service supplier to understand if there is any way that they are able to give you your money back.
This may be unlikely if the company has been declared bankrupt as you may be a part of a long line of creditors they owe, the question still needs to be asked though.
Try to arrange to meet the service supplier as soon as possible after learning of their financial failure. This will help you understanding the circumstances surrounding it and will also provide an opportunity to ask any questions you may have, face to face.
If your deposit was paid by Credit Card, speak to your Credit Card company as they may be able to refund you for any monies you have paid.
However, if instead you chose to pay by Debit Card, you may still be able to make a claim through their "chargeback" service if your bank participates in this scheme and as long as it hasn't been more than 120 days since paying the supplier and claiming for your refund.
Contact your wedding insurance provider and advise them of the situation. Should you need to make a claim, speak to them before hand to fully understand what you can and cannot claim for and to obtain further help on processing your claim.
For example, Dreamsaver Wedding Insurance cannot offer cover for claims arising from circumstances known to you or in the public domain at the time the insurance was issued.
With it being so close to your wedding date, you may not necessarily find a new service supplier that can meets your requirements as specifically as your original.
Try to make decisions on things depending on the individual supplier such as opting for different types of flowers or a lesser quantity, are you open to a different type of cuisine or even hiring a food truck instead of offering a sit-down meal? And so on.
Once you've made these kinds of decisions, you will find it easier to narrow down your new supplier, whether it's a florist, caterer, photographer or another.
Now that your financial woes are back in order and you have assessed your likes and dislikes, it's time to book a new suitable wedding service supplier!
Hopefully, this can be arranged within plenty of time of the wedding day. However, with Dreamsaver Wedding Insurance should you need to re-arrange or even cancel your special day due to a major wedding service supplier such as your venue or caterer suffering a financial failure, this may be covered by your wedding insurance provider so long as these charges have been notified to and agreed by the claim handlers in advance of beginning the re-arrangement.
Dreamsaver Wedding Insurance offers peace of mind across most aspects of the wedding and the wedding planning process. Even offering cover for deposits that have been paid prior to taking out a Wedding Insurance policy up to 2 years in advance of your wedding date!
As well as this, Dreamsaver Wedding Insurance offers protection against your Wedding Attire, Rings, Flowers Gifts, Photography, Videography and even offers protection for your Cars and Transport and much,much more.
This article is for information and entertainment purposes only. It does not constitute advice in any way. The information provided here is correct at the time of writing however please check the latest policy wording here for the latest policy terms, conditions and exclusions.
Please Note: This Article refers to an historic version of Dreamsaver Wedding Insurance policy. Policy Terms, Conditions, Exclusions and Prices may have changed. Please see the latest policy wording for more details